Novel Financial Holdings, a Jersey City, New Jersey-based insurance underwriting and services holding company, has secured an equity investment from private equity firm Crestview Partners. Announced on November 3, 2026, the investment will support the company’s expansion across insurance underwriting and services while broadening its ownership base.
The financial terms of the transaction were not disclosed. Novel is also backed by private equity firm Flexpoint Ford, which invested in the company earlier in 2026.
Led by CEO Rob Bredahl, Novel operates a diversified insurance platform that combines traditional insurance carriers, policyholder-owned reciprocal exchanges and specialized insurance services businesses.
The company manages reciprocal exchanges through its ownership of attorney-in-fact (AIF) entities and operates traditional insurance companies through direct ownership and service arrangements. Its business model combines fee-based revenue from insurance management services with underwriting income from owned insurance carriers.
Novel’s portfolio includes Forza Insurance Holdings, which owns the AIF entities managing SureChoice Underwriters Reciprocal Exchange (SURE) and Elevate Reciprocal Exchange, alongside the GeoVera Nova group of companies.
Across its platform, Novel-managed insurance carriers write approximately $2 billion in annual gross written premium, covering residential and commercial property insurance products.
The investment will support Novel’s plans to develop additional individual risk underwriting capabilities and expand into specialty and casualty insurance markets. The company also intends to maintain partnerships with established underwriting organizations, including SageSure and other third-party managing general agents.
Crestview Partners, founded in 2004 and headquartered in New York, is a middle-market private equity firm managing funds with more than $10 billion in aggregate capital commitments. Its investment activities include financial services, insurance and reinsurance.
Howden Capital Markets & Advisory served as the exclusive financial advisor to Novel Financial Holdings on the transaction.
